At an event held in New Delhi, Union Minister of Commerce and Industry Piyush Goyal expressed concern over the global situation and urged citizens to remain united. He stated that the current international crisis has brought new challenges for India.
During the program, he referred to the ongoing tensions in West Asia, where actions by United States and Israel against Iran have worsened the situation. This conflict is visibly impacting global trade and supply chains.
Goyal explained that due to the ongoing conflict in the region, maritime routes have been disrupted. As a result, crude oil prices have surged in the international market, affecting the economies of many countries, including India.
He clarified that India is not a part of this war and has no direct involvement. However, global events inevitably affect all nations, and India is no exception.
The minister emphasized that in such challenging times, the country must come together to face difficulties. He stressed that it is not just the government’s responsibility, but every citizen and industry also has a role to play.
He pointed out that many Indian companies might face difficulties in exporting goods to West Asian countries. In such a situation, patience and strategic planning are essential.
Goyal highlighted that India has made significant progress in trade in recent years. The country has signed nine free trade agreements with 38 developed nations, expanding its reach in global markets.
Due to these agreements, Indian products are gaining better access to nearly two-thirds of global markets. He described this as a major economic opportunity for the country.
The minister urged industries, farmers, small traders, and artisans to improve the quality of their products to stay competitive in the global market.
In conclusion, he said that despite current challenges, India has ample opportunities for growth, provided the country remains united and adapts to changing global conditions.
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